Investors in Bennett Funding
Are Awarded $42 Million

By

Jeffrey Taylor Staff Reporter of The Wall Street Journal

Updated Feb. 11, 1997 12:25 a.m. ET

WASHINGTON -- Investors in Bennett Funding Group Inc., a Syracuse, N.Y., concern accused by the Securities and Exchange Commission of running one of the biggest Ponzi schemes in U.S. history, were awarded $42 million under a long-awaited settlement.

That sum is a fraction of the roughly $900 million investors say they lost to closely held BFG, which leased office equipment and sold securities based on the leases. Still, the SEC, BFG's...